Southwest Gas Slams Carl Icahn’s Criticisms as False and Misleading
(Bloomberg) -- Southwest Gas Holdings Inc. fired back at Carl Icahn on Tuesday, calling his claims “false and misleading” in the latest salvo to a long-running dispute with the billionaire activist investor.
Icahn issued an open letter Monday that accused Southwest Gas executives of selling $400 million in shares to entrench themselves for an upcoming proxy fight, the latest move by the billionaire who has repeatedly tried to buy the utility owner.
“I can honestly say I have never seen anything as corrupt as the recent actions,” Icahn said in the letter.
Southwest Gas defended its stock sale in a statement Tuesday, calling Icahn's claims the company issued stock to strengthen its position was “blatantly untrue.” The Las Vegas-based company said it has been clear that new investors wouldn't be eligible to vote at the annual meeting, set for May 12.
“Mr. Icahn also failed to mention it would be illegal for Mr. Icahn to buy shares of SWX in a financing in light of his pending tender offer,” the company said in its statement, the latest exchange in a fight that began in October.
Southwest Gas shares fell less than 1% Tuesday at 9:37 a.m. in New York, to $80.62.
©2022 Bloomberg L.P.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
